AFP
13876 articles published since 08 Mar 2022
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Economic jitters as outsider leads Argentina election race
Argentina devalued the peso as economic jitters gripped the country on Monday after an anti-establishment candidate advocating harsh austerity measures surged to the front of the presidential race. Milei has proposed dollarizing the economy and imposing strict austerity measures.
Yellen calls for diversified clean energy supply chains
US Treasury Secretary Janet Yellen stressed Monday the need for diversified clean energy supply chains as America shifts away from fossil fuels, warning that production should not be concentrated in a few countries. She stressed the importance of building resilient and diversified critical global supply chains to mitigate disruptions and safeguard economic security.
UBS to pay $1.4 bn to settle US fraud charges on subprime loans
UBS will pay $1.4 billion to settle US charges that it defrauded investors in the sale of mortgage-backed securities, resolving the last big case stemming from the 2008 financial crisis, the Justice Department announced Monday.
Biden calls for 'fair' contract as threat of US auto strike looms
President Joe Biden called on Monday for a "win-win" labor agreement between US car manufacturers and the United Auto Workers (UAW), weighing in as a potential strike looms next month. Many auto experts see a high likelihood of at least one company facing a strike this fall.
Russian central bank to meet on Tuesday as ruble tanks
The Russian central bank said it would meet on Tuesday to discuss its key rate, after the ruble slid past 100 against the dollar Monday, its lowest level in over sixteen months. The central bank said it would meet Tuesday in a surprise meeting to consider the key rate, which was only recently hiked to a greater-than-expected 8.5 percent in July.
Argentina devalues peso after shock primary election result
Argentine monetary authorities on Monday devalued the peso by around 20 percent in anticipation of a market backlash to the strong performance of far-right politician Javier Milei in a presidential primary election.
Greek islanders refuse to throw in the towel over sunloungers
Greek islanders are fed up this summer -- not with the holidaymakers that flock to their beaches but with the hawkers who cram the sands with sunloungers and parasols, to the point where it's sometimes impossible to get down to their own sea. According to Greek law, at least 50 percent of every beach must be kept clear to allow people access to the sea.
Foxconn boss sees potential to invest billions in India
Taiwanese tech giant and key Apple supplier Foxconn said Monday it sees the potential to invest "several billion dollars" in India, with the firm looking to diversify its manufacturing away from China.
Etna eruption forces closure of Sicily's Catania airport
The airport at Catania in Sicily, a top Italian tourist destination, has halted all flights after a new eruption at nearby Mount Etna, its operator said Monday. "Because of an eruption at Etna and falling ash, flights are suspended until 8:00 pm (1800 GMT)," the airport said on its website.
AFP
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